Commercial Enrollment Form Agreement

SECURITY BANK MINNESOTA
ONLINE ACCESS AGREEMENT



I. Introduction

This Online Access Agreement (“Agreement”) contains the terms that govern your use of the Security Bank Minnesota Internet Banking Services. In this Agreement we will use the word “Service” to refer to Security Bank Minnesota Internet Banking Service.

You may use the Service to access your Eligible Accounts (defined in section II of this Agreement) through the Internet.

By using the Service to access an Eligible Account you are agreeing to the terms of this Agreement.

In this Agreement, the words:

“we”, “us” and “our” are used to refer to Security Bank Minnesota;

“you” or “your” is used to refer to the owner of an Eligible Account or an authorized representative;

“consumer” is used to refer to a natural person who owns an Eligible Account with respect to which a service is requested primarily for personal, family or household purposes;

“business” is used to refer to anyone other than a consumer who owns an Eligible Account with respect to which a service is requested;

“authorized representative” is used to refer to a person with authority of any kind with respect to an Eligible Account.

WAIVER OF REQUIREMENT FOR TWO SIGNATURES. Principles recognize that any requirement of verifying two signature on checks, if such a requirement exists, does not apply to electronic or telephone transfers and release Security Bank Minnesota from liability when making such transfers or payments. This means that any person who is authorized to act as a signer on your account shall be authorized by you to individually make electronic or telephonic transfers, even though that person’s authority to transfer or withdraw funds from your account by some other means (e.g., by check) must be exercised jointly with one or more other authorized persons.



II. Eligible Accounts

Each account you have with us that you enroll in the Service is called an “Eligible Account”. Your Eligible Accounts will continue to be subject to the agreements otherwise governing them, except where it is noted in this Agreement. Additionally, each Eligible Account will be subject to the following:
. The terms or instructions appearing on a screen when using the Service;

· Security Bank Minnesota’s rules, procedures and policies applicable to each Eligible Account;

· The rules and regulations of any funds transfer system used in connection with the Service; and

· Applicable State and Federal laws and regulations.


III. Access to Eligible Accounts

You may access an Eligible Account through the Security Bank Minnesota website at http://www.securitybankmn.com (the “Website”) to obtain balances, transaction history and other information. To access an Eligible Account you must have a password and the required hardware and software. Subject to the terms of this Agreement, you will generally be able to access your Eligible Accounts through the Website seven days a week, 24 hours a day. A transfer completed through the Service before the transfer cutoff time on a business day will be posted to your Eligible Account the same day. All transfers completed after the transfer cutoff time on a business day or on a day that is not a business day, will be posted on the next business day. The transfer cutoff time is 2:30 PM (Central Time). Every day is a business day except Saturdays, Sundays and federal holidays.

At certain times, a Service may not be available due to system maintenance or circumstances beyond our control. During these times, you may use an automated teller machine (ATMs), or visit a Security Bank Minnesota office to obtain information about your Eligible Accounts.

IV. Linked Eligible Accounts

All Eligible Accounts will be linked by means of the tax identification numbers of the persons who are authorized to access the account. Eligible Accounts that are linked together will appear together without regard to the ownership of those accounts. This means, for example, that when an authorized representative of an Eligible Account accesses the Service, that authorized representative will be able to view and access at a single time the following accounts:

· The accounts of the business for which that person is an authorized representative;

· The accounts of any other business for which that person is an authorized representative;

· Any consumer accounts for which the person is a co-owner or authorized signer.

V. Authorized Representatives for Business Accounts

If you are a business, any authorized representative of your business is authorized on such terms, conditions, and agreements as we may from time to time require to:

· Enter into this Agreement, as amended from time to time;

· Access each Eligible Account of yours in any manner and for any purpose available through the Service, whether now available or available at some time in the future.

TELEPHONE NUMBER AND ADDRESSES. The telephone number and address:
507-373-1481 or 1-800-657-6961

Security Bank Minnesota
P.O. Box 891
Albert Lea, MN 56007

VII. SECURITY

You will be given a password that will give you access to your Eligible Accounts. We recommend that you change your password regularly. We are entitled to act on instruction received under your password. For security purposes, it is recommended that you memorize the password and do not write it down. You are responsible for keeping your password and Eligible Account information confidential. If you believe that your password may have been lost or stolen, or that someone has transferred or may transfer money from your account without your permission, or if you suspect any fraudulent activity on your account, notify Security Bank Minnesota Customer Service at 507-373-1481 or 1-800-657-6961 or write to Security Bank Minnesota P.O. Box 891 Albert Lea, MN 56007.

VIII. LIABILITY

Under no circumstances will we have any liability to you for failing to provide you access to your Eligible Accounts. Unless otherwise required by applicable law, we will only be responsible for performing the Internet Banking Services as expressly stated in this Agreement, and will only be liable for material losses incurred by you to the extent such losses directly result from our gross negligence or intentional misconduct in performing the Internet Banking Services.
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